For Immediate Release 98-23
Statement of Richard Lindsey
Director of the Division of Market Regulation
Securities and Exchange Commission
Regarding Discussions Between the National Association of
Securities Dealers and the American Stock Exchange
Washington, DC, March 13, 1998 -- "Recently, we were apprised by
the NASD and the AMEX of their ongoing discussions. The
Securities and Exchange Commission, however, does not approve or
disapprove of mergers between markets, exchanges or firms. To
the extent that rule changes and new governance rules result from
a new relationship between the NASD and the AMEX, the Commission
would seek public comment and review the proposed changes once
those changes are presented to the Commission. We are typically
supportive of efforts by the exchanges and markets that promote
competition and educate and protect investors."